Hallador Energy (NASDAQ:HNRG) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Hallador Energy (NASDAQ:HNRG) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Northland Securities set a $28.00 price objective on Hallador Energy in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hallador Energy in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded Hallador Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.12.

Hallador Energy Stock Down 1.8%

HNRG stock opened at $15.49 on Wednesday. The company’s 50-day simple moving average is $16.30 and its 200-day simple moving average is $17.28. Hallador Energy has a 52-week low of $13.65 and a 52-week high of $24.70. The firm has a market cap of $730.25 million, a P/E ratio of 774.50 and a beta of 0.25.

Hallador Energy (NASDAQ:HNRG) last issued its quarterly earnings data on Monday, August 10th. The energy company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.20). The business had revenue of $101.51 million during the quarter, compared to analyst estimates of $90.33 million. Hallador Energy had a negative net margin of 0.20% and a negative return on equity of 0.53%. On average, analysts anticipate that Hallador Energy will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel Timothy Hudson bought 10,000 shares of the business’s stock in a transaction on Monday, June 29th. The stock was acquired at an average cost of $16.94 per share, with a total value of $169,400.00. Following the purchase, the director directly owned 15,000 shares of the company’s stock, valued at $254,100. The trade was a 200.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles Ray Iv Wesley purchased 15,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were purchased at an average cost of $16.69 per share, for a total transaction of $250,350.00. Following the transaction, the director owned 338,469 shares in the company, valued at approximately $5,649,047.61. The trade was a 4.64% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 35,000 shares of company stock worth $589,170 in the last three months. 17.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Hallador Energy

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Hallador Energy by 92.5% during the 4th quarter. Royal Bank of Canada now owns 1,413 shares of the energy company’s stock valued at $27,000 after buying an additional 679 shares during the period. Raymond James Financial Inc. acquired a new stake in Hallador Energy during the second quarter worth $27,000. Summit Securities Group LLC acquired a new stake in Hallador Energy during the first quarter worth $31,000. State of Wyoming purchased a new stake in Hallador Energy in the second quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Hallador Energy by 11,110.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,130 shares of the energy company’s stock valued at $34,000 after purchasing an additional 2,111 shares during the last quarter. Hedge funds and other institutional investors own 61.38% of the company’s stock.

Hallador Energy Company Profile

Hallador Energy Company is a coal producer and mine operator trading on NASDAQ under the symbol HNRG. The company’s primary business activities center on the production and sale of bituminous thermal coal. Hallador’s operations encompass two surface mines: the Shoal Creek Mine located in southwestern Indiana and the Bull Mountain Mine situated in eastern Montana. Both sites are designed to extract high-quality coal reserves for the power generation market.

Hallador Energy markets its coal primarily to electric utilities and industrial customers across the United States.